Forbo Holding Ltd

Latest Results (27.08.2026):

Forbo Holding Ltd — first half (Q1–Q2) 2026: Forbo returned to local-currency growth with net sales of CHF 545.7m (–0.2% in CHF, +4.0% in local currencies). Operating profit (EBIT) was CHF 41.9m, down 2.3% in CHF but up materially when excluding CHF 4.6m of one‑off structural-adjustment costs. Net profit was CHF 30.8m and basic EPS was CHF 21.66. Management confirms full‑year 2026 guidance and reports early positive effects from operational improvement initiatives.

Headline results

Net sales: CHF 545.7m (first half 2026) — +4.0% in local currencies, –0.2% in CHF owing to adverse currency effects. EBITDA: CHF 66.5m (12.2% margin), down 1.6% vs prior year. EBIT: CHF 41.9m (7.7% margin), down 2.3% vs prior year. Net profit: CHF 30.8m (–7.8%). Basic EPS: CHF 21.66 (–8.6%).

One-off items and operational improvement

Total one‑off costs related to structural adjustments were CHF 4.6m. Excluding these, Group operating profit rose by 8.4%, indicating that launched operational-efficiency initiatives are beginning to deliver.

Divisional performance

Flooring Systems: net sales CHF 370.4m (LC +2.2%, –1.2% in CHF). EBIT CHF 33.7m (9.1% margin), down 10.6% (excluding CHF 2.0m one‑offs, EBIT down 5.3%). Movement Systems: net sales CHF 175.4m (LC +7.9%, +1.9% in CHF). EBIT CHF 12.6m (7.2% margin), up 41.6% (excluding CHF 2.6m one‑offs, EBIT +71%).

Balance sheet & cash flow

Net cash position CHF 53.9m at June 30, 2026 (vs CHF 34.2m at prior-year June). Equity ratio strong at 67.3%. Operating cash flow was CHF 12.9m; investments (PP&E & intangibles) CHF 13.9m; dividend payment of CHF 35.5m contributed to the decline in cash vs year‑end 2025.

Costs, pricing and markets

Sales prices rose +2.5% group‑wide while volumes increased +1.5%. Procurement, energy and transport costs were significantly higher (partly driven by the conflict involving Iran), but price actions and cost measures largely offset these pressures. The Swiss franc remained strong, weighing on reported CHF sales.

Operational milestones & management

New Flotex production facility in the U.S. was commissioned in May 2026 (benefits expected to show in North America later in the year). Executive team strengthened: Johannes Huber appointed CEO (Jan 2026) and Heinz Hössli joined as CFO (July 2026). Capital Markets Day scheduled for Oct 21, 2026 to present the new mid‑term plan.

Outlook

Forbo confirms 2026 full‑year guidance: expects slightly lower reported sales (currency headwinds) and slightly higher operating profit than the prior year, assuming no material deterioration of the geopolitical or economic environment.